Virgin Money is to move into new headquarters in Edinburgh.
Edinburgh is celebrating after seeing its largest office space transaction since 2009, thanks to Virgin Money confirming that it is to move into St Andrew Square in the city.
The finance firm will lease the 30,000 square foot office space following an agreement with Heineken UK. Heineken UK took over following their purchase of Scottish and Newcastle.
Virgin Money will move into its offices in the summer and is looking to recruit over 300 staff as part of plans to enable them to start operations from the first day.
One of the reasons that Virgin Money chose the offices at 28 St Andrew Square is because the commercial property offers the chance of expanding the office premises.
Virgin Money were advised by DTZ on the sale with law firm Brodies offering legal advice. Heineken UK were represented by GVA and Morton Fraser.
Chief-executive of Virgin Money Jayne-Anne Gadhia said of the deal: “I am delighted to announce we have secured 28 St Andrew Square as our new Headquarters. It is another exciting step in our journey towards becoming a full service bank in the UK.
“We are planning to grow significantly in 2011 and needed a central location with good transport links. Scotland has a solid reputation for financial services and of course has highly talented and skilled people to help us grow the Virgin Money business. St Andrew Square fits the bill perfectly and will support our long term plans,” she added.
Virgin Money already has offices in London, Norwich, Birmingham and Yeovil. The commercial offices in London are looking to expand its workforce this year, while the office in Norwich has 200 staff working there.